Great Bear Resources Ltd. Begins Field Investigations at the Perdito Project, Inyo County
09.10.2013 | The Newswire
October 9, 2013 - Great Bear Resources Ltd. (TSX-V: GBR, "Great Bear", or the "Company") is pleased to announce it has begun field investigations at the Perdito sediment-hosted oxide gold project, where it has an option agreement to earn a 100% undivided interest. The Perdito project is located in Inyo County, California, an active mining district that hosts the producing Briggs gold mine of Atna Resources Ltd. (TSX: ATN).Current work consists of sampling newly identified targets and extensions to the from-surface oxide gold zones drilled by BHP Ltd. (NYSE: ADR) and Newmont Mining Corp. (NYSE: NEM) in the 1990's. Non NI 43-101 compliant historic exploration target estimates by BHP indicate potential for 2,000,000 ounces of gold at a grade of 1 - 2 g/t on the project's eastern claims. Current work aims to expand the resource potential of the oxide gold project, which includes high-grade from-surface oxide gold occurrences with historically reported trench results of 12.2 metres (40 feet) of 5.18 g/t (0.151 oz/st) gold and 42.7 metres (140 feet) of 4.22 g/t (0.123 oz/st) gold.
To date, sampling consists of a series of continuous bedrock channel samples ranging from 20 metres (65 feet) to 45 metres (148 feet) in length, in addition to panel samples characterizing outcrops in their entirety, and 100+ hand samples of various altered zones, many of which have not previously been sampled.
Samples have been submitted to Acme Analytical Laboratories Ltd. of Vancouver, British Columbia, and results are pending.
Over the next months, Great Bear will systematically test all known targets across the Perdito project. The Company plans to complete geological mapping, geochemical sampling and geophysical surveys that will culminate in drilling extensions to the already drill-proven targets on the property, in addition to any new zones that are discovered.
About the Oxide Gold Mineralization
Gold mineralization has been described as Carlin-type by past operators and is typically sediment hosted, occurring mainly in silty to shaley and congolmeritic units within a carbonate-dominated stratigraphic sequence that also hosts Jurassic monzonite porphyry dikes. More than a dozen individual gold-bearing stratigraphic units have been drill confirmed to date, occurring at all stratigraphic levels. A large number of high-angle structures also carry gold mineralization, and are spatially related to areas of stronger sediment-hosted gold mineralization.
Mr. Chris Taylor, M.Sc. P.Geo, is the Qualified Person as defined by National Instrument 43-101 is responsible for the accuracy of this news release.
For further information please contact Mr. Chris Taylor, P.Geo, President at 604-681-0037.
About Great Bear
Great Bear is a well-funded Canadian precious metals exploration company working in leading jurisdictions of Canada and the United States. A 100% interest can be obtained in the Perdito oxide gold project, California, and a 70% interest can be obtained in the BA silver-rich VMS project, Eskay Creek District, northern British Columbia.
ON BEHALF OF THE BOARD
"Chris Taylor"
Chris Taylor, President
Inquiries:
Tel: 604-681-0037
Fax: 604-681-0094
info@greatbearresources.ca
www.greatbearresources.ca
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This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
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